Vienna, Feb 24  Austria’s year-on-year inflation rate rose to five per cent in January, the highest figure recorded since December 1984, the federal institution Statistics Austria has said.

The January inflation rate was 0.7 percentage points higher than in December 2021.

Tobias Thomas, Director General of Statistics Austria, on Wednesday said in a statement that surging fuel prices and household energy prices were main drivers of inflation, Xinhua news agency reported.

In January, fuel prices increased by 29.6 per cent year-on-year, while household energy prices rose by 16.4 per cent.

Members of Austria’s National Council and the country’s trade associations have urged the federal government to take immediate measures to curb soaring inflation, the Austrian news agency APA reported.

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